Of all the taxes, Inheritance Tax (IHT) causes the most controversy. Some see it as the tax that creates a wider inequality between the super-wealthy and the "ordinary" taxpayer. Others feel that paying a tax on assets acquired from earnings that have already been taxed is unfair and effectively creates a double tax charge.

In terms of actual revenue, the number of people paying IHT and the amount collected compared to other taxes is still very small. Of the £584.3 billion tax collecte...